Famous Analyst Says Altcoin Season Is Not on the Horizon, Explains the Reason!

Famous analyst Murad Mahmudov explained that an altcoin season will not come anytime soon and why.

In his post on Twitter on June 16, famous analyst Murad Mahmudov stated that a big altcoin season is not on the horizon, and shared the reasons for this situation, while disappointing investors to some extent.

Mahmudov, who shared his post according to the data of the Central Bank of San Francisco, said that Americans spent their savings. According to the chart, there was a huge increase in savings due to the huge decrease in consumer spending in the period from March 2020 to August 2021.

The famous analyst included the following statements in his post:

It can be explained with a single chart that a large-scale and long-term altcoin season will not come soon. 

Stating that the market had a much higher value due to new tokens compared to previous cycles, Mahmudov emphasized that for this reason, significant profits could be achieved with small money in those periods. The fact that US citizens have not yet saved and are spending their current investments means that the hot money entering the cryptocurrency market will be delayed further.

On the other hand, it is stated that the analyst made many negative comments about altcoins in the cryptocurrency market.